Kali Metals is raising $7 million to advance exploration at its gold and lithium prospects, amid the clouds of an ongoing investigation into Mineral Resources' corporate governance issues.
Mineral Resources chair Malcolm Bundey will review the planned departure of Chris Ellison from the company, in a move which gives a glimmer of hope to the founder's supporter base.
This week's Bulls N' Bears Runner of the Week is … lithium. The silvery-white metal is back in the headlines for all the right reasons, pumping the share prices of several companies, including Arcadium Lithium, which is at the centre of a takeover bid by Rio Tinto. Kali Metals also spiked on the lithium trend, while Rimfire Pacific Mining and Rhythm Biosciences also ran hard.
Newly merged Westgold Resources and Karora Resources have lauded the timing of their deal to create a consolidated gold miner, after tying a ribbon on their transaction today.
Lycaon Resources has won a tenement ballot for a highly-prospective new lithium and copper project in Western Australia's Pilbara region. The tenement, in addition to four other applications, lies adjacent to the Marble Bar and DOM's Hill projects that are held in a joint venture by Kali Metals and lithium major Sociedad Química y Minera de Chile (SQM).
Chris Ellison's Mineral Resources has boosted its stake in Kali Metals to 14 per cent, about a week after acquiring an almost 10 per cent shareholding.
This week's Bulls N' Bears top ASX runner is… Kali Metals. Its share price rose up some 256 per cent to join fellow movers and shakers Culpeo Minerals, Jupiter Energy and Singular Health Group.
Our weekly appointments wrap includes Luke Mortimer, Luke Reinehr, Paul Hughes, Clinton Booth, Alex Hewlett, Ajanth Saverimutto, Samuel Ekins, Bill Parker, Ashleigh Shelton and Cat Sulicich.
Newly appointed Kalamazoo Resources chief executive officer Luke Mortimer said he was committed to forwarding the company's exploration and project acquisition interests.
Mineral Resources has bought a nearly 10 per cent stake in newly listed Kali Metals, just days after the aspiring lithium miner made its stock market debut.
Mark Beyer and Jack McGinn discuss BGC results; home building incentives; housing price hikes; Rio royalty payments; Harvest Road's loss; all the action in lithium; Satterley's LWP deal and Cottesloe preselection.
Kali Metals has listed on the Australian Securities Exchange and is set to start trading next week after raising $15 million through an initial public offering.
